WLU FOUNDATION | 2018-19 ANNUAL REPORT 1 The Foundation DEAR FRIENDS, WLU FOUNDATION STAFF I’m pleased to report that fiscal year 2019 was a time of supports, continued growth for the WLU Foundation. Revenue strengthens increased 19% and contributions increased 51% over the previous fiscal year! and sustains The endowment has increased 44% since fiscal year West Liberty 2016 and last year alone, we welcomed 11 new members University through to our Nathan Shotwell Planned Giving Society. In 2019, we also saw a huge 44% increase in the number of new fundraising, donors giving their first charitable contribution ever to investment and the WLU Foundation. stewardship of All of this positive momentum can be credited to a few important factors. First, it is a GINNI MCFARLAND FINDLEY NICK MUSGRAVE testimony to your generous commitment to West Liberty University and its students. Finance Administrator Development Coordinator private funds. Secondly, it is inspired by the responsible leadership of President Stephen Greiner. Lastly, it is supported day in and day out by our staff and by our Board of Directors, led by Chairman David Croft. WLU FOUNDATION BOARD OF DIRECTORS The WLU Foundation is fortunate to have a dedicated Board of Directors. Thank you for your service! VISION STATEMENT: As part of our five-year strategic direction, we plan to continue these positive trends. The WLU Foundation will build We are prepared to face continued challenges presented by the realities of limited donor trust through ethical resources with strength and creativity. E. Marc Abraham James Frum Honorary Board Members practices and communication Marty Adams Stephen Greiner, Ex Officio R. Emmett Boyle while honoring philanthropic It is my personal goal to continue to earn your confidence and make the WLU Anissa Anderson Member Ron Hobbs intentions that advance West Foundation a donor-centered organization, which serves a University that exists to Charles Annett Daniel I. Joseph, Secretary Fred Horne Liberty University. provide opportunity to our students and leadership to our region. Bruce Berlage Henry R. Marockie Robert Joseph Donna Berlage John P. McCullough Bob Kota CORE VALUES: Thank you for your commitment to WLU! Jason Blair Norman B. Moyes R. Clark Morton Integrity, Transparency, John Bonassi Donald Nickerson Andrew Pasden, Jr. Accountability, Donor Centric, In gratitude, Clyde Campbell E. Alex Paris, III Peter Sontag Thomas Cervone Cindy Stickley Richard Stevenson Stewardship, Professionalism, David Coffaro Samuel S. Stone Gary West Collaboration, Ethical David Croft, Chair Thomas Tuttle Randy Worls DAVID R. CROFT Standards John Dolan, Vice Chair Beth Weaver Chairman Angela Zambito Hill Russell Dunkin, Treasurer Jeremy R. West Executive Director Linda Edwards 1 WLU FOUNDATION | 2018-19 ANNUAL REPORT WLU FOUNDATION | 2018-19 ANNUAL REPORT 2 Seven (and a half) FAQs about the Charitable IRA Rollover WHY I GIVE “I choose to give to WLU because I have seen 1. WHAT IS IT? 4. WHO CAN BENEFIT FROM IRA 7. HOW SHOULD I INFORM THE WLU firsthand how WLU provides the tools necessary CHARITABLE ROLLOVER GIFTS? FOUNDATION OF MY PLANS TO to achieve your goals in today’s world. I give to The charitable IRA rollover, or qualified MAKE A QUALIFIED CHARITABLE ensure that future students benefit from the same charitable distribution (QCD), is a special The charitable IRA rollover can benefit DISTRIBUTION? experience. West Liberty has been a part of my families’ lives for provision allowing certain donors to donors with significant assets in an IRA, many years so I have a vested interest in seeing the university exclude from taxable income – and donors who make large gifts relative to You can reach us by phone at (304) 336- continue to succeed, grow, and maintain its high standard.” count towards their required minimum their income, and donors that choose not 5635 or in writing at: WLU Foundation, distribution – certain transfers of IRA to itemize. 208 University Dr. CUB 126 West Liberty, MATT BLAIR ‘15 assets that are made directly to public WV 26074. charities. 5. CAN I MAKE A CHARITABLE IRA ROLLOVER GIFT IN MULTIPLE TAX 7 ½. I WANT TO MAKE A CHARITABLE 2. WHO CAN MAKE A CHARITABLE YEARS? IRA ROLLOVER GIFT, WHO SHOULD I IRA ROLLOVER GIFT? TALK TO? Yes! Current law extends the charitable Donors over 70 and a half years of age IRA rollover provision indefinitely, with no Please contact your tax professional. can transfer assets from a traditional expiration date, allowing donors to make Then we look forward to hearing from IRA or Roth IRA to a permissible public separate qualifying gifts each tax year. you and assisting you reach your WHY I GIVE charity such as the WLU Foundation. philanthropic goal! 6. DOES IT MATTER WHICH RETIREMENT “I enjoy giving to WLU because 3. WHAT ARE THE BENEFITS? ACCOUNT I USE TO MAKE MY GIFT? the essence of life is more than Note: This information is not intended as just making a living with my In addition to seeing their philanthropic Yes. Direct rollovers to a qualified charity legal or tax advice. education. Rather it’s making a worthwhile life by dollars hard at work, donors can count can only be made from an IRA. In certain helping others in pursuit of their educations.” the charitable IRA rollover towards their circumstances, however, donors may be required minimum distribution and gifts able to roll assets from a pension, profit ANISSA ANDERSON ‘94 of up to $100,000 can be excluded from sharing, 401(k), or 403(b) plan into an IRA Federal Gross Income. and then make the transfer directly from that IRA to the WLU Foundation. 3 WLU FOUNDATION | 2018-19 ANNUAL REPORT WLU FOUNDATION | 2018-19 ANNUAL REPORT 4 STATEMENT OF STATEMENT OF 2019 UNIVERSITY SUPPORT & EXPENDITURES FINANCIAL POSITION ACTIVITIES JULY 1, 2018 - JUNE 30, 2019 JULY 1, 2018 - JUNE 30, 2019 JULY 1, 2018 - JUNE 30, 2019 TOTAL IN THOUSANDS TOTAL IN THOUSANDS UNIVERSITY SUPPORT TOTAL IN PERCENT THOUSANDS OF TOTAL ASSETS 2019 2018 2019 2018 SUPPORT AND REVENUES SCHOLARSHIPS - based upon a total of FY19 Annual Cash and cash equivalents $171,799 $160,484 Contributions $2,009 $1,332 Cost of $17,600 for tuition, room & board for an in-state $427 21% Unconditional promises to give 837,319 256,348 Investment Income 1,185 1,288 student, this amount provided the equivalent of 24 full Other receivables 7,555 7,555 Special Events 94 84 scholarships. Investments at estimated fair value 16,751,476 16,033,130 $1,993,000 Change in value of split interest agreements 34 76 ACADEMIC PROGRAMS - JASON Learning Project, Beneficial interest in perpetual trust 2,285,806 2,251,816 Other income 92 94 Nearby Nature Project, RSEF Science Fair, classroom Other assets 47,668 77,006 TOTAL SUPPORT AND REVENUES 3,414 2,874 TOTAL UNIVERSITY SUPPORT equipment, Professional Development Schools, Fluency $393 20% TOTAL ASSETS $20,101,623 $18,786,339 Project, Technology Upgrade, Frankenstein @ 200, EXPENSES AND LOSSES Appalachian Biodiversity research, teacher mentors, 16% LIABILITIES AND NET ASSETS West Liberty University support: MADFest, SPA Clinic, etc. General 21% LIABILITIES Scholarships 427 397 Expenses Scholarships Accounts payable and accrued expenses $8,880 $112,446 Athletic programs 192 188 ATHLETIC PROGRAMS - Expenditures for Hilltopper Liability for charitable gift annuities Athletic Club, recruiting expenses, team travel 15,555 18,204 Academic programs 393 446 $192 10% 2% Total liabilities 24,435 130,650 Capital improvements 624 306 expenses for tournaments, practice uniforms, purchase equipment, etc. Other Other programs 32 659 Programs NET ASSETS Fundraising 6 16 CAPITAL IMPROVEMENTS - Belmont Savings Without Donor Restrictions 1,527,445 1,562,149 Costs of direct benefits to donors 58 46 Bank Indoor Practice Facility, Robinson Writing Lab With Donor Restrictions 18,549,743 17,093,540 General and administrative 261 241 renovation, Men’s Basketball Locker Room renovation, $624 31% Total net assets 20,077,188 18,655,689 TOTAL EXPENSES AND LOSSES 1,993 2,299 Baseball Field Improvements, West Family Athletic Complex, Dance Studio floor CHANGES IN NET ASSETS 1,421 575 20% TOTAL LIABILITIES AND NET ASSETS $20,101,623 $18,786,339 OTHER PROGRAMS - WLU-TV (Channel 14), library Academic NET ASSETS AT BEGINNING OF YEAR 18,656 18,080 expenses, alumni activities, College Community Programs $32 2% 31% Choir, Tri-State Tax Institute, faculty development and Capital KEY MEASUREMENTS AND CALCULATIONS: NET ASSETS AT END OF YEAR $20,077 $18,655 research, community support, etc. Improvements Result RETURN ON AVERAGE NET ASSETS EMPLOYED Total Foundation Expenditures stated as a 1.3% 7.0% 8.0% 10% % of Total Assets under Management DURING FISCAL YEAR END JUNE 30, 2019 FOUNDATION EXPENSE GENERAL AND ADMINISTRATIVE EXPENSE - Includes Athletic Ratio of Total Contribution to Total $261 13% 7.7 to 1 salary and benefits, rent, operating expense, travel, etc. Programs Foundation Expenditures Average Net Assets 19,444 18,367 FUNDRAISING $64 3% Ratio of Total Contributions to Total 1.16 to 1 University Support Expenditures To view the audited Financial Statements, Notes and TOTAL UNIVERSITY SUPPORT $1,993 100% Certified Public Accountants Opinion, please go to wlufoundation.org. GRAND TOTAL SUPPORT AND EXPENDITURES $1,993 100% 5 WLU FOUNDATION | 2018-19 ANNUAL REPORT WLU FOUNDATION | 2018-19 ANNUAL REPORT 6 NEW TRACK & FIELD COMPLEX DEDICATED West Liberty University topped its Homecoming Weekend with sparkling green jewel immediately took its place among the top a festive Opening and Dedication Ceremony for the West Family multi-purpose venues in the region. Athletic Complex and Tim Weaver Memorial Track. With the addition of the West Family Athletic Complex and Tim “We are grateful to our friends and major donors Gary and Flip Weaver Memorial Track, the Hilltopper track teams now have West, who together with donors David and Ann Coffaro, made the ability to practice and host meets on campus.